Recession: Bank of England may have to print you a pocketful of cash to spend – Telegraph: “Among the radical plans being considered by economic policy-makers is the possibility that the Bank could directly hand out cash to people.
This could mean a Bank of England Gold Card, it could mean a rebate cheque, it could even mean a bundle of notes arriving in the post. More prosaically, it could mean the Bank giving money to commercial banks for them to lend to customers.
Whatever the ultimate outcome, the message is clear: we are about to enter a weird, parallel universe for monetary policy. Since the Bank was set up in the 17th century, by far and away its most important tool for controlling the economy has been the level it sets for interest rates.”